The Great God said: On December 12, Bitcoin will return to the 100,000 mark! It is expected to surpass gold and become the global strategic reserve!

The highly anticipated Bitcoin MENA Conference kicked off grandly on December 11, inviting numerous industry leaders to participate. Among them, the founder of the well-known exchange Binance, CZ Zhao Changpeng, also engaged in a fireside chat at the MENA Conference discussing the future development trends of Bitcoin, covering topics from national strategic reserves to global adoption in international trade, making it a treasure trove of insights.
**　　CZ stated that the value of Bitcoin lies not just in its price, but in its practicality. In the future, Bitcoin should not only be used for investment purposes but should serve as currency itself. Over the next 10-15 years, the use cases for Bitcoin will become more diversified, and we may even see more countries adopting Bitcoin as a strategic reserve, which will further drive up its price.**
**　　Recently, the United States took the lead in announcing the establishment of a Bitcoin strategic reserve, prompting other smaller countries to follow suit. CZ highly praised this move by the U.S., stating that countries that act sooner will reap greater benefits, and he believes this is the most effective asset allocation strategy. Regarding whether ZG will follow suit, CZ mentioned that ZG's policies are currently opaque, but he does not rule out the possibility of a discreet layout, suggesting they may have already begun actions that are yet to be made public. He also believes that Hong Kong could become a testing ground for ZG's Bitcoin policies, although the current regulatory stance on cryptocurrencies remains conservative.**
**　　In terms of cryptocurrencies, after experiencing a slight pullback earlier this week, Bitcoin surged past the $100,000 mark again yesterday following the release of the U.S. November end-of-quarter CPI year-on-year and November adjusted CPI month-on-month data. Around 6 AM today, it briefly broke above last week's high of $101,800 before retreating, with the price at the time of writing being $100,782, marking a 24-hour increase of 4.71%.**
**　　Previously, after Bitcoin first broke the $100,000 mark, it did not manage to stabilize above this level before experiencing a pullback, so it cannot be said that Bitcoin has confirmed a breakthrough of this historic level. A false breakout in Bitcoin could lead to a weak performance in the cryptocurrency market in the short term, with upward momentum appearing slightly fatigued. There have also been counter-signals during the day, indicating that Bitcoin may need some time to consolidate before resuming its upward trend. If it can break through again after this consolidation, there is hope for adjusting the historical high of $104,000.**
**　　Bitcoin 4-hour chart**

First, according to the Bollinger Bands indicator on the 4H Bitcoin chart, the current price is near the upper band, indicating that there may be overbought conditions in the short term. If the price continues to struggle to break through the upper band and shows signs of retreat, it may adjust towards the middle band; the slight expansion of the Bollinger Bands indicates increased market volatility, suggesting that significant price fluctuations may be on the horizon.
**　　Secondly, based on the KDJ indicator on the 4H Bitcoin chart, the current K-line and D-line values are above 80, indicating an overbought area, which may face pullback pressure in the short term. If the J-line continues to fall from a high position and crosses below the K-line and D-line to form a death cross, the pullback signal will become more pronounced.**
**　　Finally, according to the MACD indicator on the 4H Bitcoin chart, the DIF line and DEA line are showing a slight tendency to converge at a high level. If a death cross forms, the price may experience a pullback in the short term. The MACD red histogram has also begun to gradually shorten, indicating that bullish momentum is weakening. Currently, the MACD is above the 0 axis, and the bullish trend has not been completely broken, but caution is still needed for adjustment signals.**
**　　In summary, the current trend shows that Bitcoin has certain pullback risks at high levels, especially when the MACD shows a death cross and the KDJ indicates an overbought retreat; the price may test the middle band of the Bollinger Bands or even lower levels. If the price can effectively stabilize above the upper band of the Bollinger Bands, and the MACD red histogram continues to expand, the upward trend will continue.**
**　　Based on the above analysis, the following suggestion is provided for reference: consider going long on Bitcoin if it pulls back to the range of $100,300-$100,000, with a target of $102,000-$102,800 and a stop-loss at $99,700.**
**　　Writing time: (2024-12-12, 16:20)**
**　　(Article by: Daxian Says Coin)**